Generally, the IRS can include returns filed within the last three years in an audit. If we identify a substantial error, we may add additional years. We ...

The government collects taxes to pay for the goods and services it provides including schools, roads, law enforcement, libraries, parks and military prote...

All sweepstakes prizes are treated as income for tax purposes. That means you’ll be required to add the fair market value of your car prize to your earnin...

Taxpayers who itemize deductions on their federal income tax returns can deduct state and local real estate and personal property taxes, as well as either...

Explanation: The U.S. exported farm equipment in the late 19th century because the country was already an industrialized nation. The U.S. did not export I...

Generally, if your total income for the year doesn’t exceed certain thresholds, then you don’t need to file a federal tax return. The amount of income tha...

In terms of income, the top state is New York, which pays teachers an average of over $76,000 per year. Alaska comes in behind New York as the state with ...

Global financial markets operate under a system of floating exchange rates, where the supply and demand for various currencies dictate their value at any ...

Imports: The top imports of Australia are Refined Petroleum ($16.8B), Cars ($15.8B), Crude Petroleum ($7.9B), Broadcasting Equipment ($6.37B), and Deliver...

The IRS considers unemployment compensation to be taxable income—which you must report on your federal tax return. If you received unemployment benefits t...